Sound, Trinity, Amerisur
Sound has announced that its TE-9 well at Tendrara in Eastern Morocco will spud today. The first of a three well campaign it will test the A1 prospect and it is intended to drill both the TAGI as a primary target and also the underlying Paleozoic as a secondary and the well is expected to take between 35-45 days.
A Q3 update from Trinity this morning with production at 2,734 b/d, this is up 9% y/y but down 3% q/q due to a well being offline for two months.
There is much going on with 6 rcp’s, 38 workovers and 2 infill development spudded in the quarter which will be completed with first production in early Q4. Since the quarter end 2 new infill wells have been spudded with 2 more due in the latter part of the quarter. At the Trintes field the intensive workover and reactivation work done in the quarter has increased the number of wells on production from 17 to 31.
The outlook for Trinity is exceptional, by Q1 2019 all 6 wells are expected to be on production boosting production and profitability from what is very high quality organic growth. With the balance sheet decks cleared and moving forward debt free Trinity is in a very powerful position indeed.
An update from AMER this morning as they first report that at CPO-5 the Indico-1 well is on track to spud in 2H of October and followed by Aguila-1 and Sol-1 after that.
September production was 4,974 b/d with a peak of 5,025 b/d in line with expectations. The company also say that the testing of the T sands continues and with the discovery being so low in the prospect will mean more appraisal drilling. The PUT 12 and PUT 9 seismic has been processed and is being interpreted prior to the finalisation of the Coendu drilling location.